Which of the following was designed to help foster trade between nations?
A) tariffs
B) GATT
C) exchange controls
D) quotas
E) nontariff trade barriers

Question

Quizplus · Accepted Answer

GATT, which stands for General Agreement on Tariffs and Trade, was designed to reduce barriers to international trade and foster cooperation between nations. It was signed in 1947 by several countries and was replaced by the World Trade Organization (WTO) in 1995. Tariffs, exchange controls, quotas, and nontariff trade barriers, on the other hand, are all measures that countries can use to restrict or control trade with other nations.

Which of the Following Was Designed to Help Foster Trade